Prostarm Info Systems Limited, today announced price band of ₹ 95-105 per Equity Share for its forthcoming initial public offering. The initial public offering will open for subscription on Tuesday, May 27, 2025, and the issue will conclude on Thursday, May 29, 2025.
The anchor portion will be opened on Monday, May 26, 2025. The company intends to raise ₹168 Crore from the offering and will to be listed on the BSE and NSE. Choice Capital Advisors Private Limited is the Book Running Lead Manager, and KFIN Technologies Limited is the Registrar to the offer.
Prostarm Info is an integrated power solution company, especially in UPS system lithium-ion battery pack, third party power solution products among others and. It caters to a range of industries including healthcare, aviation, research, BFSI, railways, defence, security, education, renewable energy, information technology and oil & gas. It manufactures several power solution products under the Prostarm brand, such as UPS systems, inverter systems, lift inverter systems, solar hybrid inverter systems, lithium-ion battery packs, servo-controlled voltage stabilisers, and isolation transformers. It also undertakes turnkey rooftop solar photovoltaic power plant projects on an EPC basis, as well as AMCs.
The initial public offering will comprise a fresh issue of up to 1,60,00,000 Equity Shares with a face value of ₹10/- through the book-building route. As many as up to 48,00,000 equity shares have been reserved for the Anchor investors, up to 24,00,000 equity shares allocated for the NII portion, up to 32,00,000 equity shares for QIBs after allocation to Anchor Investors, and the Retail (RII) portion accounts for up to 56,00,000 equity shares.
Prostarm Info Systems intends to utilise ₹72.50 crore of the total IPO proceeds towards funding capital requirements of the company, ₹17.95 crore for repayment/prepayment of all or a portion of certain outstanding borrowings availed by the company and the remaining capital will be used for achieving inorganic growth through unidentified acquisitions and other strategic initiatives and for general corporate purposes.
Promoted by Ram Agarwal in 2008, a first-generation entrepreneur with 16-plus years of experience in electrical and electronic control, energy storage, power conditioning and power consumption solutions industry. It operates three manufacturing facilities in the state of Maharashtra. It has a network of 21 branch offices and two storage facilities across 18 states and one Union Territory. Its manufacturing units are accredited with ISO 9001:2015, ISO14001:2015, ISO 45001:2018 and ISO 50001:2018 standards. The company employs 423 permanent employees, and 19 people on contractual basis.
The company catered to over 700 clients during FY24, including marquee players such as Larsen & Toubro Limited, Tata Power Co. Limited and Bajaj Finance Limited. As on date, Prostarm is an empanelled vendor for Airports Authority of India; West Bengal Public Health Engineering Department; West Bengal Electronic Industry Development Corporation Limited; Telangana State Technology Services Limited; Railtel Corporation of India Limited; and NTPC Vidyut Vyapar and Nigam Limited.
The company has posted a ₹268.62 crore revenue from operations and a profit (PAT) of ₹22.10 crore in the first nine months ended December 2024. It posted a revenue of ₹257.87 crore and profit (PAT) of ₹22.79 crore for the financial ended March 31, 2024.
